Shares in Northern Irish specialty drugmaker Galen were the third-biggest losers in the FTSE mid-cap index today after a medical journal reignited concerns about the safety of hormone drugs.
A British study published in the
Lancet
backed US findings on the sideeffects of hormone-replacement therapy (HRT), saying the treatment taken by women to relieve symptoms of the menopause increases the risk of breast cancer and stroke.
HRT is an important part of Galen's business, although the company also sells contraceptives and drugs for skin disease.
Its shares - which were hit hard after the original US trial highlighted HRT risks in July - fell 5.8 per cent to 391 pence in London this morning.
However, Mr Adrian Howd, industry analyst with ABN AMRO, said he believed there was nothing new in the Lancetreport and any weakness in the stock should be viewed as a buying opportunity.